§ 24405 Retiree Benefit Increase Rates

Education Code·California

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Key Takeaways

•If you worked for 20 or more years and retired, your first $300 monthly retirement pay gets a raise.
•How much extra you get depends on when you retired: before July 1972, between July 1972-June 1973, or between July 1973-June 1974.
•The raise started in 1976, but the law was updated in 1997.

Example

A person retired in 1970 after working 25 years.

They get a 9% raise on the first $300 of their monthly retirement pay because they retired before July 1972.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 24405 Retiree Benefit Increase Rates

The first three hundred dollars ($300) of the monthly allowances payable to retired members, disabled members, and beneficiaries are increased as of July 1, 1976, as follows if the member had 20 or more years of credited service: (a) For those with effective dates prior to July 1, 1972, 9 percent. (b) For those with effective dates from July 1, 1972, to June 30, 1973, 6 percent. (c) For those with effective dates from July 1, 1973, to June 30, 1974, 3 percent. (Amended by Stats. 1996, Ch. 634, Sec. 247. Effective January 1, 1997.)

Last verified: January 23, 2026

Key Terms

monthly allowances retired members disabled members beneficiaries 20 or more years of credited service

References

Official text at leginfo.legislature.ca.gov
California Legislature. Education Code. Section 24405.

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Key Takeaways

Example

Key Terms

Related Statutes

References